Senators have toughened punishment for crimes on a securities market

the Federation Council has approved amendments to the criminal code of Russian Federation regarding strengthening of a criminal liability for crimes on a securities market. For amendments 119 senators, against - 5 have voted, have refrained - 8. The given amendments considerably strengthen and provide more effective protection of participants of a securities market - both emitters and professional participants of a securities market, and investors, including individual investors - citizens, is told in the conclusion of committee of Council of Federation on is judicial - to legal questions. the objective party of the given structure of a crime Extends: Now the criminal liability not only for entering into the prospectus of issue of securities and the statement in it obviously unreliable information, but also for the statement of the report on results of release of the securities containing obviously unreliable information, and also for placing of issue securities without the state registration of their release if these acts have caused a large damage to citizens, the organisations or the state is provided. in a new wording p.1 items 185 of the criminal code of Russian Federation are increased penal sanctions: they are established at the rate from 500 to 700 (was from 200 to 500) the minimum wage rate or at a rate of a salary or other income condemned for the period from 5 till 7 months (was from 2 till 5 months). The criminal code of Russian Federation is supplemented with a new kind of a crime in economic activities sphere - item 185 - 1, establishing a criminal liability for malicious evasion from granting to the investor or supervising body of the information defined by the legislation of the Russian Federation about securities. According to the note to item 185, a large damage and 185 - 1 criminal code of Russian Federation admits item 185 a damage, in 2000 times the exceeding minimum wage rate established at the moment of commission of crime. Registration of release of issue securities and the report on results of their release is now one of essential stages of procedure of issue of securities, issue securities without state registration are not subject to placing.